This document contains key terms and concepts related to international trade theories and economic history, including references to world wars, the industrial revolution, and trade theories from Adam Smith to new trade theory. Some of the major topics covered include comparative advantage, absolute advantage, mercantilism, theories of international trade such as Ricardo's model and Heckscher-Ohlin theory, as well as concepts like national competitive advantage, firm strategy, and productivity.
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Trade theories
1. 1960 1970 1980 1990 2000 1914-1918 1939-1945 WW1 WW2 Industrial revolution Mercantilism Absolute advantage Comparative advantage New Trade Theory National competitive advantage Get a copy of this slide at: www.smartstudentsok.com Product life cycle
2. Summary of theories Nokia Porter’s Diamond Factor endowments Demand conditions Related & supporting industries Firm strategy, structure & rivalry National competitive advantage Paul Krugman Microsoft Raymond Vernon Xerox copier Heckscher-Ohlin Export from China David Ricardo Cocoa & rice Adam Smith Cocoa & rice Trade surplus Economies of scale First mover advantage Stages of country development Factor endowments Productivity Specialization Zero-sum New trade theory Product life cycle Comparative advantage Absolute advantage Mercantilsm
